1794 Poplar Grove Rd

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1794 Poplar Grove Rd

Boone, NC 28607
Asking Price
$2.60M
Asset Type
Multifamily
Class
Class B

What's Special

1794 Poplar Grove Rd is located in Boone, North Carolina, situated within Watauga County. The neighborhood is characterized by a mix of residential developments and natural forested areas, offering a suburban feel with proximity to the Blue Ridge Mountains. The property is positioned less than three miles from App State University and downtown Boone, providing access to local retail, dining, and healthcare services. Transportation is primarily accessed via Highway 105 and Highway 421, connecting the site to the broader High Country region. As a multifamily asset, this location is suited for residential apartments or student-oriented housing. The proximity to the university makes it a viable option for a tenant profile consisting of students, faculty, and university staff seeking off-campus living. Additionally, the quiet residential setting appeals to local professionals and small households looking for accessibility to Boone’s employment hubs while maintaining a retreat from the town’s central business district.

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NOI
$80,000
Cap Rate
3.08%
DSCR
0.52
Underwater
Cash-on-Cash
-9.53%
Monthly Payment
$12,863.381
Annual Cash Flow
$-74,360.577

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